Napa Auto Parts 2005 Annual Report Download - page 22

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20
FORWARD-LOOKING STATEMENTS
Some statements in this report constitute forward-looking
statements that are subject to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. The
Company cautions that its forward-looking statements involve
risks and uncertainties. The Company undertakes no duty to
update its forward-looking statements, which reflect the
Company’sbeliefs, expectations and plans as of the present
time. Actual results or events may differ materially from those
indicated as a result of various important factors. Such factors
include, but are not limited to, changes in general economic
conditions, the growth rate of the market for the Company’s
products and services, the ability to maintain favorable supplier
arrangements and relationships, competitive product and
pricing pressures, including internet related initiatives, the
effectiveness of the Company's promotional, marketing and
advertising programs, changes in laws and regulations, including
changes in accounting and taxation guidance, the uncertainties
of litigation, as well as other risks and uncertainties discussed
from time to time in the Company’s filings with the Securities
and Exchange Commission. In particular, see “Item 1A. Risk
Factors” in our 2005 Annual Report on Form 10-K. Readers are
cautioned that other factors not listed here, in such Form 10-K
or in our other Securities and Exchange Commission filings
could materially impact the Company’s future earnings,
financial position and cash flows. You should not place undue
reliance upon forward-looking statements contained herein,
and you should carefully read the other reports that the
Company will, from time to time, file with the Securities and
Exchange Commission.
Management's Discussion and Analysis of Financial Condition and Results of Operations
(continued)
The following is a summary of the quarterly results of operations for the years ended December 31, 2005 and 2004:
Three Months Ended
March 31, June 30, Sept. 30, Dec. 31,
(in thousands except per share data)
2005
Net Sales $ 2,342,201 $ 2,475,657 $ 2,555,503 $ 2,409,689
Gross Profit 736,480 761,257 778,502 787,847
Net Income 106,598 110,967 110,876 108,993
Diluted Earnings Per Share: .61 .63 .63 .63
2004
Net Sales $ 2,196,991 $ 2,297,686 $ 2,349,283 $ 2,253,307
Gross Profit 686,911 693,065 699,393 750,354
Net Income 100,199 101,146 97,893 96,314
Diluted Earnings Per Share: .57 .58 .56 .55